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UPI has become the fastest and most convenient way to fund crypto wallets on Indian exchanges.
CoinDCX, WazirX, and ZebPay lead in offering secure and instant UPI deposits.
FIU registration and regulatory compliance make these crypto exchanges safer for Indian users.
Unified Payments Interface (UPI) has emerged as a dominant payment rail in India, powering a large share of digital transactions. In the first half of 2025, UPI handled a major portion of digital payments, making it a natural choice for funding investment platforms, including cryptocurrency exchanges.
At the same time, tighter regulatory scrutiny in India has made compliance with KYC/AML and registration with the Financial Intelligence Unit – India (FIU-IND) non-negotiable for exchanges wishing to offer Indian Rupee (INR) on-ramps.
In this environment, a number of crypto exchanges stand out for accepting UPI (or offering UPI-style deposit flows) while aligning with Indian regulation. The following article explores several of the major crypto exchanges, outlines relevant regulatory and payment developments.
One of India’s leading domestic platforms, CoinDCX offers a full Indian-rupee stack with UPI deposit support. Users can link a UPI ID and deposit INR directly after completing KYC. The platform lists over 500 cryptocurrencies and emphasises strong security features and compliance with Indian rules.
As CoinDCX is built for the domestic market, the UPI deposit experience tends to be smoother: the deposit screen clearly lists UPI among the supported payment methods, and the required steps are publicly documented. For investors looking for a home-grown exchange, this platform represents a solid choice.
ZebPay is another major Indian crypto exchange, with a long history in the local market. It supports instant UPI deposits, and the help centre details how UPI funding works, what the minimum and maximum amounts are, and typical processing timelines. The transparency of deposit limits and the speed of crediting make ZebPay an attractive option.
Since it is focused on the Indian user base, ZebPay tends to handle INR operations (including UPI) with fewer foreign-platform complexities. For someone prioritising ease and clarity in INR funding, ZebPay remains a contender.
WazirX is a well-known platform in the Indian crypto ecosystem and supports INR deposits, including UPI. Although the exchange faced a major hack in 2024 (which affected its reputational standing), it continues to operate and has updated its deposit methods. The blog and support content from late 2025 list UPI alongside other deposit rails like bank transfer.
For users comfortable with acknowledging the past security event and focused on a platform with wide liquidity and recognition, WazirX remains in the discussion. The key caveat is to check whether UPI is enabled on the user’s account and the current term sheet for that method.
Bitbns is another Indian exchange that documents UPI deposits clearly. It highlights “Direct UPI/Bank” flows for INR deposit and mentions zero deposit fees for UPI. Additionally, the platform provides information in its FAQs about how UPI compares to other funding rails. This level of transparency around cost and funding method is helpful when comparing platforms.
As deposits via UPI incur no fee on Bitbns, it becomes a cost-sensitive choice. For smaller or frequent deposits, the zero-fee model is particularly relevant.
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Giottus is an Indian exchange that offers both “Instant UPI” and standard UPI deposit flows, with guidance around the timetable and fee structure. The platform’s educational blog explains how to deposit and withdraw INR, how UPI deposit crediting works, and minimum deposit amounts (sometimes as low as Rs. 100). For users making smaller trades or exploring crypto for the first time, the small-ticket UPI entry is a notable benefit.
Since Giottusis is domestically oriented and designs its flows for local users, the UPI experience tends to reflect Indian banking rails behaviour rather than global P2P style.
Mudrex started as an investment-oriented platform offering index-style crypto investing, but it also supports INR funding via UPI or IMPS. The app listing explicitly mentions “Instant UPI deposits,” and the help content guides users through UPI deposit steps, including entering a Unique Transaction Reference (UTR) to expedite fund crediting. For someone looking at more passive investment into crypto (rather than active trading), Mudrex offers a friendly UPI on-ramp.
As Mudrex appeals to newer investors or those making small recurring deposits, the accessibility and UPI funding ease make it interesting.
Some major international exchanges have adapted for the Indian market and support INR funding paths that include UPI or UPI-style methods (commonly via peer-to-peer (P2P) markets). For example, the global exchange Binance announced compliance efforts for its India operations and describes UPI and bank-transfer deposit paths. Similarly, KuCoin lists P2P deposits that include UPI methods.
However, when using these global platforms, users must be aware that UPI availability may vary by bank partner, user verification status, and regional regulation. In short, the UPI experience may not be as smooth or guaranteed as on domestic exchanges. The advantage of global venues is deep liquidity and access to more exotic tokens, but with slightly higher operational complexity or regulatory blur.
The Indian payments landscape has evolved significantly, and several policy changes impact how UPI is used for crypto funding. One key change is the decision by the entity ["organization", "National Payments Corporation of India", 0] (NPCI) to shut down recipient-initiated UPI “pull” or “collect” requests for person-to-person transactions from October 1, 2025.
This aims to curb QR-code-based and collect-request scams. Since some crypto deposit flows attempted to piggyback on collect requests, this policy change raises the importance of confirming the deposit flow is still compliant with UPI’s updated rules.
NPCI has delayed the implementation of a market-share cap (which limits any single digital-payments firm from processing more than 30 % of UPI transactions) until December 2026. Though not directly crypto-related, this shows the payments regulator prefers growth stability. These broader UPI developments indirectly benefit crypto funding as they maintain the reliability of the UPI rail and reduce the risk of disruption.
The regulatory and payments environment for UPI in India is becoming more mature, which enhances the utility of UPI as an on-ramp to crypto platforms.
At its core, using UPI to deposit INR into a crypto exchange means faster, lower-cost funding compared to older rails (IMPS/NEFT). However, there are some practical considerations: deposit limits vary by bank and by exchange; some platforms may cap UPI at Rs. 1,00,000 per transaction despite higher UPI technical limits; not all banks or UPI partners may always be available for crypto deposit flows; and deposit crediting can depend on reference/UTR matching.
Since domestic platforms like CoinDCX, ZebPay, Bitbns, Giottus, and Mudrex clearly document UPI deposit flows and support Indian users directly, they often provide the most straightforward experience. Global platforms may offer UPI via P2P or regional partners, but there is greater variability and possibly more user effort required.
As regulatory oversight is tighter, ensuring the exchange is FIU-registered, supports full KYC, and publicly states UPI-deposit availability (with clear terms) helps mitigate risk. Given evolving payment rules (especially NPCI’s changes to ‘collect’ flows), choosing a platform whose UPI deposit path is documented and active today is wise.
Also Read: Top Crypto Exchanges in Japan for 2025
UPI has matured into the preferred funding path for INR deposits on crypto exchanges in India. Its high availability, speed, and low cost make it ideal for investors looking to get started or deposit recurring amounts.
Domestic exchanges that offer native UPI deposit methods, clearly document them, and abide by Indian regulatory frameworks, stand out in 2025. Global exchanges do support UPI or UPI-style funding, but the experience may have more variables. Underpinning all of this is the fact that the UPI rail in India is becoming more robust, more regulated, and more trusted.
1. Which crypto exchanges currently accept UPI payments in India?
Top crypto exchanges such as CoinDCX, WazirX, ZebPay, Bitbns, Giottus, and Mudrex accept UPI payments for instant INR deposits and withdrawals.
2. Is it safe to use UPI for crypto transactions?
Yes, using UPI on FIU-registered and compliant exchanges is safe. These platforms follow strict KYC and AML norms to protect user funds and data.
3. Are there any fees for UPI deposits on crypto exchanges?
Most Indian exchanges like Bitbns and Giottus offer zero fees on UPI deposits, while others may charge a small processing fee based on the amount or partner bank.
4. What is the deposit limit when using UPI on crypto exchanges?
The UPI limit varies by platform and bank, typically around Rs. 1,00,000 per transaction, though some exchanges may set their own lower or higher caps.
5. Can international exchanges like Binance or KuCoin accept UPI payments?
Yes, global exchanges such as Binance and KuCoin offer UPI support through direct INR deposits or P2P trades, but availability may vary by user location and compliance status.
